Is BC in danger of losing businesses due to high costs and other economic factors?
That’s the fear of some BC business organizations aligning in a joint cause to prompt action from the provincial government.
“Sixty-four percent of employers are considering leaving the province and taking their business to another jurisdiction,” Fiona Famulak, president and CEO of the BC Chamber of Commerce, told Daily Hive in an exclusive interview.
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On Tuesday, the BC business community, comprising groups like the BC Chamber of Commerce, the Business Council of BC, the Canadian Federation of Independent Business, the Greater Vancouver Board of Trade, and others, signed a release calling for an economic plan in the province.
“Canada and British Columbiaās productivity challenges are well-documented,” the release stated.
One concern of this group of leaders is that BC could lose out on opportunities to other provinces or even to the USA.
“That would be catastrophic,” Famulak said.
“It’s not only the business that leaves British Columbia, it’s the tax dollars that leave British Columbia.”
So, what glaring problems in BC do business leaders want to see changed?
Famulak told Daily Hive that they conducted some polling earlier this year to determine what residents, including the business community, felt needed to be addressed.
“Sixty-five percent of employers feel that recent regulatory change has caused a lot of uncertainty,” she said.
The BC Chamber of Commerce is asking the government to reduce the cost of doing business and expedite major projects.
“The natural resource sector is waiting to be unleashed,” Famulak said, adding that the economic potential of that sector is immense.
Famulak outlined some steps the government could take, including reducing taxes and fees and raising the employer health tax threshold.
She also called out BC’s new mandatory paid sick leave of five days.
“We are the only province that has mandatory paid sick leave.”
We’ve also published stories about the concerns of other BC business leaders about the province’s rising minimum wage.
We asked Famulak if addressing the cost-of-living crisis in BC would help businesses, and she reversed the question, suggesting that helping the health of the business community could address the cost of living in this province.
“I think if the government of the day addresses the health of the business community, then the business community is better placed to create well-paying jobs, which then allows British Columbians to put food on the table. It allows them to pay rent or mortgage.”
Famulak says that the BC Chamber of Commerce stands ready to work to achieve these goals with whichever party prevails in the provincial election next month.